Monthly Archives: February 2013

How’s your attitude?

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Myself and other Indy Realtors have just completed the 4th step of a program called BOLD (Business Objective, Life by Design), over seven weeks, BOLD conditions agents with powerful mindset exercises, language techniques, and business-building strategies.  How’s your attitude?  With the things I’m learning, I’ve come to realize that while I put forth a positive attitude to the outside world, I don’t always feel it inside…BOLD is changing that in me and I’m excited about what I am becoming…a more positive, dynamic person as well as Realtor!

Do you believe in the Power of Positive Thinking?  The superpower of negative thinking is that it has a stronger impact than the positive. In fact, negative impact of setbacks in your work is three times as powerful in affecting motivation than positive progress. It’s just easier to remember the bad stuff that’s happened to you during the day than the good.

Why is it that our brains have a such a negativity bias? The reason is simple: They’re wired to pay more attention to negative experiences. It’s a self-protective characteristic, we are constantly scanning for threats from when we used to be hunters and gatherers. But such vigilance for negative information can cause a  downward spiral and a negative feedback loop that does not reflect our realities.

Fortunately, we aren’t doomed by our natural disposition towards negativity. What’s amazing is that we have the ability to break out of that negative feedback loop and we can actually rewire our brains to think positively and that is what BOLD is doing for me!

So tell me…how’s your attitude?  What are your steps to changing?  Don’t you feel that working with a strong, confident, positive Realtor who will work hard to create the best home buying or selling experience for yourself and your friends and family?  I am the best and will work hard to create those great experiences….call me and let’s talk!  I am Vicki Reed, and I’m BOLD!

positive-thinking

Vicki Reed

Ready to List your home FOR SALE???? NOW is the time…

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Are you someone who believes Spring is the “buying season”?  Many homeowners wait until Spring to list their homes for sale. Here are five reasons why NOW is the time:

1.) Demand Is High

Homes are selling at a pace not seen since 2007. The most recent Existing Home Sales Report by the National Association of Realtors (NAR) showed that annual sales in 2012 increased 9.2% over 2011. There are buyers out there right now and they are ready to BUY your home!

2.) Supply Is Low

The monthly supply of houses for sale is at its lowest point (4.4 months) since May of 2005. The current month’s supply is down 21.6% from the same time last year. Historically, inventory increases dramatically in the spring, increasing your competition. Selling now when demand is high and supply is low may help you get your best price.

3.) New Construction Neighborhoods are popping up EVERYWHERE!

For the last several years, homeowners selling their home did not have to compete with a new construction projects in their area. As the market is recovering, more and more builders are jumping back in. These ‘shiny’ new homes will again become competition as they are an attractive alternative to many BUYERS.

4.) Interest Rates Are Projected to Increase Slightly

The Mortgage Bankers’ Association has projected mortgage interest rates will inch up approximately one full point in 2013. Whether you are moving up or moving down, your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

5.) Timelines Will Be Shorter

The dramatic increase in transactions caused many challenges to the process of buying or selling a home in 2012. We waited for inspections, dealt with last minute appraisals and prayed that the bank didn’t ask for ‘just one more piece of paper’ before issuing the mortgage. There are fewer transactions this time of year. That means that timetables on each component of the home buying process will be friendlier for those involved over the next 90 days.

NOW is the time to contact me to list your home!  It is a great time to make the move!  Not sure you can get another mortgage?  Visit my website and complete a FREE, NO OBLIGATION Pre-Qualification from The Shanley Team at Inlanta Mortgage.  Not in the Indy area?  I can help you with that too!  We have great Keller Williams Realtors EVERYWHERE, let me make an introduction for you!

Home-Sales

Vicki Reed

First Friday…huh?

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Any idea what First Friday is?  What about IDADA?

Well, IDADA is the Indianapolis Downtown Artists and Dealers Association and the First Friday of each month, they sponsor The IDADA First Friday Art Tour.  This is IDADA’s longest-running program.  It is a free, self-guided tour that happens on the first Friday of every month and that is open to the public.  The tour includes artist studios and art galleries that are members of IDADA and located in the downtown area.  The IDADA First Friday Art Tour venues open their doors from about 6:00-9:00pm (or even later in some locations) to allow people to see their artwork.  There is no distinct beginning or ending point to the tour—people are encouraged to hop from studios to galleries as they please!  Each month, IDADA publishes a brochure that is available at participating locations and that is also available on the IDADA website.  The brochure includes a map of all of the IDADA First Friday venues as well as an alphabetical listing that explains what is going on at each venue.

I was fortunate to have been invited to attend a special showing for my friend and fantastic artist Patty Coulter  last Friday.  Patty had entered a contest last Fall to design a special edition wine label for Mallow Run Winery...and she won and Mallow Run Winery sponsored a showing of her work during First Friday!  Her beautiful design is on the Impression Pinot Grigio – LIMITED EDITION LABEL

An instant palate-pleaser with rich flavors of ripe peach and pear and a lingering finish of refreshing grapefruit. Perfect with grilled fish, or try it with spicy chicken enchiladas. Label artwork by local artist Patty Coulter, in a proud partnership with the Greater Greenwood Arts Council; proceeds from the sale of this great wine will be donated to promote artists and art awareness in the community.

Patty is a woman of many talents, she also owns and operates Spectrum Flooring Services in Greenwood.  Spectrum Flooring Services was founded in 2005 on the premise that quality flooring, backed by full manufacturer’s warranty and expert worry-free installations, could be sold at a minimum markup, in sufficient volume to be profitable.  They consistently live up to that that philosophy and their business and experience is strong.  In addition to being a fantastic artist and business woman, Patty is an expert Interior Designer and Stager.  If you need flooring, try Patty and Spectrum, you will be happy.

Are you ready for a new home for that flooring?  Need new carpet before we put your home on the market?  Let’s talk!

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Vicki Reed

We found the home of your dreams…what’s next?

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We’ve found your new home, negotiated the deal, now the real work begins!

As your Realtor, I will deliver the Earnest Money check to the Seller’s Agent – remember, this check will be cashed!  The funds you put down varies with the price of the home – good rule of thumb is 1% of the purchase price…$175,000 home = $1,750.00 Earnest Money.  Earnest Money is a deposit made to a seller showing the buyer’s good faith in a transaction.

I will notify your lender and provide them a copy of your Purchase Agreement. You will work with them to complete your loan process.  It is important that you respond to all of their requests as quickly as possible!  We cannot close on the purchase of your new home until they say we can!

It is important that you schedule a Home Inspection as soon as possible! The clock starts ticking immediately on our time to schedule, complete and request any inspection repairs, 12 – 15 days is standard for most Purchase Agreements.  I recommend Iron Gate Inspection Services, it is not necessary for you to be present for the entire inspection, but you should be there for the last hour so that the inspector can review the report and home with you, and as your Agent, I will stop by the Inspection as well just to make sure everything is going well.  We will work together to review the Inspection Report and formulate an Inspection Response. This is the second round of negotiations.  The key to Inspection Response negotiations is that we share the entire report with the Seller’s Agent and be reasonable in our repair requests.

Closing…finally! Again, until your lender provides “clear to close”, we are at their mercy!  We generally have an idea about when it will be, I will keep and eye process to make certain we are always in compliance with the Purchase Agreement.  I will notify you of when and where the closing will be scheduled and as we near the date…how much money you may need to bring to closing.

The most frequent questions I get about Closing are:

How long will it take to sign all the paperwork?
The closing itself generally takes from 30 to 60 minutes – sometimes longer depending on wire transfers and paperwork.

What do I need to bring to closing?
Buyers and Sellers both need a form of photo ID and any money you owe should be in the form of a cashier’s check – if over $10,000, funds are required to be wired.

As your Agent, it is my job to protect you, fight for you and navigate the process of purchasing a new home…and I am great at my job.  Contact me today and let’s get you a new home!

House shopping

Vicki Reed

Likes & Dislikes

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What I LIKE

  • Hearing “have a nice day” from the shoe shine guy.
  • Having someone hold a door open for me – chivalry still exists!
  • Please and Thank You, Excuse Me, Go ahead, you only have a few items.
  • Smelling the baking aroma from the ‘flavor factory’ as I drive past I465 and Park 100.
  • Catching up with old friends.
  • Hugs, kisses & phone calls from grandkids.
  • Unexpected mail (not a bill or ad).
  • A funny, clean joke.
  • Not-for-profit employees – they do it for the benefit of helping others.
  • A ‘loaner’ in Euchre.
  • The library.
  • Rest stops along interstate highways.
  • Baby pictures – any baby – they’re all cute.
  • Post-it notes.

What I DON’T Like

  • Drivers that tailgate – I’m going the speed limit – Back OFF!
  • Co-workers that take the last drop of coffee from the pot and don’t make another one; my usual response is a quote from ‘ The Old Man’ from A Christmas Story: “sons ‘o bitches!”.
  • Spit on the sidewalk – at least do it in the gutter.
  • Smelling the  ‘s**t factory’ smells when the wind blows up from the south.
  • Loud cell phone talkers – we don’t need to know your business.
  • TV news ‘teasers’ – just give us the news, NOW!
  • Politicians – most of them are crooks one way or another.
  • Reality shows; drama in real life is enough for me.
  • One-ply toilet paper.
  • Litter/trash along the road/sidewalk.
  • The word ‘like’ 20 times in one sentence.
  • Dirty snow.

Something to think about BEFORE you put your home on the market…

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Whether you are thinking of up-sizing or down-sizing, have you thought about how you are going to pay for your next home?  For most of us, financing is necessary, but will you qualify for that next home?  BEFORE you decide to list your home, please, please get pre-qualified for your next one!

Lesson Learned…

Home was listed for sale at the beginning of September, Buyer made an offer on December 2, a little back and forth and they were under contract on December 5 with a close date of February 1.  As part of the Buyer due diligence, they had a home inspection by Iron Gate Inspection Services, Buyer’s Agent provided Inspection Response to the Seller‘s Agent and Seller quickly agreed to fix everything on inspection response.

Fast forward to January 18, 2 weeks before closing, Buyer receives a letter from an Attorney retained by Seller, that Seller is unable to secure a mortgage and Seller no longer wishes to sell their home and asked that Buyer give them “good title” and walk away.

Buyer retained an Attorney and by January 22, Seller was told they must close on the sale of their home on February 1 as agreed to in the contract.

What would you have done?  In this case, the Buyer was my client and we won and she will be moving into her new home this weekend, BUT, I also represent Sellers and this has changed MY listing presentation and I will be asking my Sellers to pre-qualify PRIOR to their home going on the market.  My goal is to Turn your Dreams into an Address…but I can’t do that without your due diligence, know your status before making a decision to sell, you don’t want to go from owning to renting.  The Shanley Team at Inlanta Mortgage is ready and willing to work through this with you and I’ve made it easy for you with a link on my home page (as well as in the right hand column of this blog post) directly to their application.  Also check out my post “Power of the Pre-Qual“…it’s not just for Buyer’s anymore!

Not sure of the current value of your home?  Visit my website and request a Current Market Analysis of your home’s value and let’s talk!

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Vicki Reed